The present invention relates to the new and distinct hardy hibiscus plant, Hibiscus ‘Party Favor’ hybridized by Kevin A. Hurd in the summer of 2006 at a nursery in Zeeland, Mich. The new Plant, originally assigned the breeder identification number 06-10-04 is a cross between Hibiscus ‘Fantasia’ U.S. Plant Pat. No. 11,853 as the female parent (pod parent) times Hibiscus ‘Fireball’ U.S. Plant Pat. No. 13,634 as the male parent (pollen parent). Hibiscus ‘Party-Favor’ has been asexually propagated both by shoot tip stem cuttings and sterile tissue culture at the same nursery in Zeeland, Mich. first since 2008. The resultant plants have been found to be stable and true to type in successive generations of asexual reproduction.